If you're a homeowner in San Francisco, you may be considering or already in the process of self-managing your property. Real estate in San Francisco is highly sought after and tends to hold long-term value, despite occasional periods of adjustment and correction. Therefore, self-managing a property in San Francisco can save you money in the short run and be highly lucrative in the long run. In this blog post, we'll discuss the best practices for self-managing your property in San Francisco.

Doorstead is a full-service property management service that operates in San Francisco. Our experienced and knowledgeable team offers dedicated property management as an alternative to self-managing property. We've rounded up some do's and don'ts of San Francisco property management based on our experience that every homeowner and property manager should understand.

Do:

Market your rentals to potential high-quality tenants. 

• Understand what amenities and selling points are essential to your property's location. San Francisco is a popular city, so there's always demand for rental properties. Communicating the diversity and unique neighborhood attractions can be a selling point for potential tenants. Spend time in the area and use resources like this SFChronicle summary of popular housing regions in East and West San Francisco. Consider using online tools such as social media to reach potential high-quality tenants. 

• Have a process for screening tenants and communicate your expectations and procedures to them. Doorstead's complete guide to renting your home walks you through how to do this.

Research and understand significant San Francisco property market trends

• San Francisco is a lucrative market with dynamic fluctuations. Homeowners can glean insights from other adjacent economic factors and historic renting trends. For important demographics, check out Doorstead's overview of the San Francisco housing market for homeowners.

Be prepared for high turnover rates.

• San Francisco is a city notorious for high rental turnover rates. See how you can mitigate this challenging environment of high-rental turnovers in San Francisco and check out some insightful infographics on avoiding tenant turnover losses.

• Stay receptive to tenant feedback.

• Being a landlord is not always easy, but listening to your tenants and addressing any issues or concerns they may have is essential. Try to be responsive and resolve issues quickly and efficiently while not taking disagreements or conflicts personally. Check out this article on common tenant complaints and how to approach them.

Use technology to your advantage.

• Take advantage of the steadily innovating proptech industry by implementing existing online applications, services, and portals for tenants instead of trying to do all aspects manually. Automating parts of property management will make your life a lot easier and your management more consistent. Investopedia recommends these top 7 2022 property management software to manage tenants, respond to maintenance requests, and perform accounting.

Have a clear understanding of the San Francisco rental market.

•  Analyze and study data to learn what prices are fair and which will help you maximize profits. Rent.com compiled real-time data on average rent prices for different types of apartments and important neighborhoods in San Francisco.

Be aware of the city's strict rental laws. 

• San Francisco has several rent control laws that limit how much landlords can increase rent each year. Be proactive; don't let these rental laws throw you in for a surprise. We offer some suggestions in this guide on navigating this unique challenge.

Don't: 

Underestimate the time and effort required to self-manage a San Francisco property. 

• Unexpected occurrences and increases to budget pop up all the time. This resource from American Family Insurance lists national prices for different maintenance services and advice on budgeting. Remember that San Francisco has higher service costs than national averages to help you set expectations accordingly. 

Overprice your rental units without doing market research first.

• You'll have to lower the rent later and lose out on potential tenants. 
• Here's how to budget and repair effectively for properties in San Francisco.

Raise rents too much. 

• San Francisco's strict rental laws limit how much landlords can increase rent each year. If you raise rents too much, you could end up getting fined by the city. Here's a summary from Rentspree on rent increase laws in San Francisco. 

Ignore the importance of customer service. 

• San Francisco is a competitive rental market, and tenants have choices. To keep your tenants happy, you need to provide excellent customer service. This Buildium article defines great customer service in property management and lists some best practices.

San Francisco is home to a thriving economy and diverse population, contributing to a dynamic housing market. To successfully self-manage property in San Francisco, become an expert at marketing and communicating your property's unique appeal. Be responsive, incorporate feedback from tenants, and stay updated on changing pricing and legal dynamics of the housing market.

Did you find Doorstead's do's and don'ts guide to San Francisco property management helpful? Please share it with someone who could benefit from these best practices. Are there any essential tips we should have mentioned? Please email [email protected], and we'd love to include it.

And if you're looking for more helpful tips on San Francisco property management, browse Doorstead's blog. We offer full-service property management in San Francisco for homeowners looking to maximize their returns while minimizing risk. See if your property is eligible. 

Investing in real estate can be a great way to build wealth, but managing a rental property can also be a significant hassle. Dealing with tenants, maintenance issues, and unexpected vacancies can take time and energy. That's where Doorstead comes in, with a unique rent guarantee product that can make being a landlord stress-free and profitable. We're proud to offer our guarantee contract, which ensures that your property is always rented, or we'll cover the rent. 

In this testimonial piece, two of our recent guarantee contract homeowners, Summer and Prasenjit, share their success stories and how Doorstead's rent guarantee has given them peace of mind.

Customer Success Story: Doorstead's Guarantee generated profit for purchasing property

Summer is a pharmacist who designed and oversaw the construction of her dream condo in Southern California, only to have her job relocate her to a new city. She didn't want to sell her property, but managing it from a distance while working seemed daunting. That's when her boyfriend recommended Doorstead, and she was impressed by the company's unique guarantee based on the property's market value.

From the start, Summer describes her experience with Doorstead as stellar. She appreciated the prompt and professional communication from her Doorstead representative, who answered all her questions within one to two days. 

"I can't believe this was this easy - you essentially have to put in your bank account, and they send you emails when your rent deposits are coming. Everything that was stated in the emails happened accordingly. The whole process has been clear and coherent, overall just super great property management."

The rent-ready process, which involved some initial frustration for Summer as Doorstead required certain cleaning and maintenance tasks and recommended using a third-party vendor, ultimately proved to be a positive experience. Summer realized that Doorstead's high standards attracted high-quality tenants willing to pay more for a well-maintained property.

Becoming a profitable rental homeowner with Doorstead's Guarantee

The best part? Doorstead's rent offer was higher than the listing price for similar homes in the area, which meant that Summer was not only getting her mortgage paid but also making a monthly profit. This unexpected income allowed her to save and purchase another rental property, a huge milestone.

"My first listing experience was with Doorstead, and it's been such a positive experience. It's been life-enriching for me, and I couldn't be more thankful."

With Doorstead's guarantee contract, Summer no longer worries about selling her dream home when temporarily relocating for work or taking on the role of a property manager while working. Instead, guaranteed rent is helping make Summer's transition to a rental homeowner easy, profitable, and a dream come true.

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Customer Success Story: How Doorstead's Rent Guarantee Helped a First-Time Homeowner Navigate Changing Living Circumstances

Prasenjit, a new homeowner in the Bay Area, had a similar experience with Doorstead. As a busy software engineering director, he needed a bigger house to work separately from his living room.

"I want a team to handle everything. They have their specialized expertise, and I have my expertise in my own field. I don't want to manage my property myself; I want to let Doorstead handle it because they are the experts and they've done a great job."

He didn't want to deal with the hassle of turning his old home into a rental property but didn't want to sell it. Doorstead's guarantee service was the perfect solution. The company inspected his property, made a list of necessary fixes, and hired contractors to do the work. The entire process was seamless and stress-free, allowing Prasenjit and his family to focus on moving into their new home.

Like Summer, Prasenjit was impressed by Doorstead's professionalism and unique guarantee offer. He would recommend that other guarantee owners follow up with the Doorstead team to ensure they understand the rent-ready schedule and what actions need to be taken from the owner's end to get their property on the market as soon as possible.

From Uncertainty to Confidence: How Doorstead's Rent Guarantee Brought Clarity to a First-Time Homeowner's Cash Flow

Prasenjit believed it was not the right market to sell their old house, but was also worried about a negative cash flow once they moved into their new home if he didn't. 

"Doorstead's service gave me a clear picture of my financial breakdown as a first-time homeowner whose living circumstances were in flux which was incredibly valuable. It gave me the confidence to move into our new home while deciding to keep our old property."

Once Prasenjit received an initial guarantee rent quote from Doorstead, he realized it would be enough to cover his monthly mortgage payment. With this, he passively lets Doorstead manage his old home while he enjoys peace of mind, consistent rental payments, and more time with his family. 

These success stories show that Doorstead's guarantee contract can be a game-changer for new or seasoned rental homeowners. By taking on the risk of vacancies and providing a guaranteed rent offer, Doorstead makes managing a rental property stress-free and profitable. And with a focus on high standards and professionalism, customers like Summer and Prasenjit can trust that their properties are in good hands. 

So if you're a property owner who wants to maximize your rental income without the stress of property management, Doorstead's rent guarantee product could be your perfect solution.

Contact us now to learn more about our guarantee contract and how we can help you maximize your rental income.

With ever-increasing rental prices and a limited number of available properties, it can be difficult for homeowners to find the time and energy necessary to manage their investment homes effectively. That's where Doorstead and professional property management services come in.

Leveraging property management experts and teams can bring you a higher return on investment and free up your time and energy for other priorities and pursuits. We'll cover some of the main benefits in this article.

What do property managers or property management services do?

Property management services help you find the best tenants for your investment property, manage the property daily, and ensure that you get the highest investment return. They can also help with maintenance and repairs, marketing your property to prospective tenants, and advocating when issues arise. Learn more in our comprehensive guide to property management.

Benefits of a San Francisco property manager like Doorstead

San Francisco rental homeowners increasingly turn to professional management companies to help them navigate the city's ever-changing regulations. When you hire an experienced San Francisco property manager, you won't have to worry about all the day-to-day tasks and communications. Here are some more universal benefits:

Increased return on investment: 

• By relying on the expertise of a property manager, you can maximize your rental income by avoiding costly mistakes that could negatively impact your bottom line.
• San Francisco property managers typically charge a percentage of the monthly rent, so their fees are often very reasonable and incentivized to earn you more. 
• A good San Francisco Property Manager can keep your property maintained at optimal costs, saving you money on faulty repairs and other sneaky expenses. 

Time and energy savings: 

• Rather than spending hours each week managing your property or communicating with tenants, you get time to focus on other things, like your job, your family and friends, or your hobbies. 
• You won't need to adjust your schedule to troubleshoot repair issues that could spring up at any time of night or day.
• You are a layer removed from all immediate issues arising from the property.

Navigation around challenges specific to San Francisco:

•  Homeowners in San Francisco face high tenant turnover rates, expensive maintenance and repairs, and strict rental laws. Read more about these SF-specific property management challenges and how to address each one.

Expert knowledge of local rental markets and trends: 

• Professionals specializing in property management have extensive experience navigating the San Francisco rental and vendor market. 
• A property management company will have in-depth knowledge of the local real estate market, allowing you to make informed decisions about your property and tenants.

Access to specialized resources and tools: 

• Property managers utilize a wide range of software and systems, such as tenant screening services or automated software that helps with rent collection.

Access to a large network of potential tenants: 

• Through their extensive professional networks, property managers connect with qualified tenants and help find the one that will be right for your home.

What to look for in a property manager

When finding a property manager, you want a company that offers the best affordability, expertise, and reliability. In addition, they must have expertise in the San Francisco market. They should have experience managing properties in the city and will be able to be at your property when required to manage local projects and tasks. You should also ask for references from past clients and check out online reviews. See how Doorstead has partnered with homeowners in the San Francisco area and helped manage their properties. Founded in 2019, Doorstead aims to be the go-to platform for landlords and property managers who want modern, tech-enabled, automatic solutions to keep their rentals running smoothly. You can learn more about Doorstead's property management mission and team. It is also a good idea to meet with or talk to several companies before making your final decision.

Hiring a San Francisco property manager is a great way to save time and money on your rental home. With their help, you can focus on your other responsibilities and leave the day-to-day management of your property to trusted experts. For more resources, visit our blog.